Nigeria’s Private Sector Incurs N5.16 Trillion From Banks In Just 11 Months In 2021

CBN

The Central Bank of Nigeria (CBN) Money and Credit Statistics data reveals that Nigeria’s private sector took a total of N35.31 trillion in loans from banks as of November 2021. This figure is a result of the N5.16 trillion net new loans incurred within January and November in the same year.

As of December, loans to the private sector increased by 17% compared to N30.2 trillion in 2020. Owing to the increase in CBN activities and initiatives in the Nigerian lending industry, particularly with fintech, Nigerian bank credit has increased in recent years.

Share This:
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *

Open